Even with all the available material and references available on the net, most of my friends and classmates still wonder about how the current world economic crisis started. The simple explanation to this is that those references and materials that explain the inner workings of the current credit crisis are, to be honest, not easily digestible by the ordinary folk.
In Filipino slang, “nakaka-nosebleed basahin!”
Well, thanks to Jonathan Jarvis from the Art Center College of Design in Pasadena, California we can now understand the on-going credit crisis through visual media.
And here’s part two
Awesome animation and explanation of the credit crisis. I just hope someone could translate this into Filipino so that more Pinoys could further understand the current economic crisis.
One point of observation though, and this would open a new door for opportunities and discussion, the video never explained nor mentioned why the homeowners started to default on their mortgages.